EVN - Evolution Mining

[divs4ever]

looks beautiful to me i first bought some at 74.5 cents in 2015

i suspect many will not admire the coming 12 months of reports as it tries to digest the recent mine acquisitions ( that should eventually improve cost efficiency ) and the persistent tipping of cash into JVs ( mostly explorers hoping to be producers one day )

definitely as bold as NST under Bill Bearment , but i hold both EVN and NST ( and several other gold producers )

IMO gold producers are a bet against major currencies , as many are being inflated without corresponding increases in productivity

while i love my divs i realize i need SOME growth to resist the ravages of inflation

EVN and NST look like an acceptable compromise to achieve both

DYOR

as YES i expect EVN , NST and the 'gold price ' to be beaten down in the near term to make currencies look strong ( and hopefully cheaper shares for me )

if not excited about gold miners check out SXE which is leveraging the miners desire to lower energy costs at mining projects ( isn't exclusively catering to miners but that is where the contracts are coming from , currently )

i would have considered SXE as a tip but my top up price is sub 40c and that is unlikely in the current month

maybe i will save that for the yearly comp.

 

[explod]

Could not help myself. Future of this looks very bright and don't think it will be effected too much by a drop in the gold price, so added more and dropped my NST which seems to be tiring due to falling amounts overall in their dirt. Having said that I do think it's a bit oversold.

Just my rough opinion. DYOR

 

[Sean K]

Could not help myself. Future of this looks very bright and don't think it will be effected too much by a drop in the gold price, so added more and dropped my NST which seems to be tiring due to falling amounts overall in their dirt. Having said that I do think it's a bit oversold.

Just my rough opinion. DYOR

Both NST and EVN charts looking pretty similar to me. Looks like you could flip a coin to see which one to be in, or just be in both... I've only briefly looked at both of them but not sure why one would outperform the other going forward??

 

[explod]

I go more by fundamentals than charts kennas. Though I do follow volumes to asses sentiment as that seems to play a major part in my view.

 

[Sean K]

I go more by fundamentals than charts kennas. Though I do follow volumes to asses sentiment as that seems to play a major part in my view.

I try to do both. But, having briefly looked at both operations and various projects I'd still be flipping a coin. What do you see to prefer EVN over NST at the moment? I'm looking at buying into the majors when I see PMs and PGEs turn around and so far my conclusion on best value is to flip coins... To hedge risk owning NCM and these two should cover it.

 

[Sean K]

Looks like a pip either side of $3.90 is EVN's break point.

 

[Sean K]

Broke through $4.00 yesty above the $3.90 ish zone, and with POG breaking resistance and XGD on the way up I'd expect EVN to mirror it. The target for XGD is 7600 May high, POG $1900, which will equate to about $5.40 on EVN.

 

[Sean K]

EVN could have potentially stuffed up the neat charts with the decision to spend $1b on buying out Glencore at Ernest Henry. They already get 100% of the gold, so this is a play for the Cu and Ag. Diversification perhaps. Not sure I'd prefer them doing something like this or buying an advanced developer with more upside in their stock metal - gold. Something like DEG.

Just broken through first line of support heading into messy territory. None of that matters too much post this decision with general sentiment / analysis of the deal probably causing some disruption. I don't like it, which means the sp will probably go up.

 

[mullokintyre]

Agree.
I made some good profits on this two years ago, but my most recent forays were a ten percent loss.
Moving on to others.
Mick

 

[Sean K]

As I didn't like the plan, of course it went up. I'm only really holding due to the chart and that I think POG is going to keep going.

In the Oz:

 

[Sean K]

EVN had a great day yesterday off bad news (to me). I obviously know nothing.

Coming up against some resistance now, expect a retrace to the blue circle ish.

 

[Joules MM1]

ASX:EVN Chart Image by JoulesMM1

www.tradingview.com

technical only

 

[divs4ever]

my other pick for the year long comp

YES ,, i pick the ones i hope will go lower so i can buy them cheap

i have a reasonable amount of EVN already but am not bloated

since most Central Banks have resisted lifting interest rates in recent months i expect there will be more suppression of gold prices in coming months

while EVN is not the most exciting gold-producer on the ASX , i think the current strategy will pay off longer term

i currently have a buy order in the market somewhere around $3.20 and yes it might take me all year to get that order filled

good luck everyone

 

[Craton]

Hmm, OK.
EVN is also my pick for the 2022 Full Year stock picking/tipping comp.

Why?
Gold, silver and copper-gold. Gotta have a goldie in the portfolio mix and EVN has a proven managerial track record of growing the company.

 

[divs4ever]

i was thinking it would be a 'stealth' improver trimming costs via synergies this year rather than 'growth' via acquisitions and accelerated exploration campaigns

but with EVN still having funding available for any opportunities ( since EVN can make copper mines profitable as well )

now IF BHP wanted to put in a serious effort to grow , there is still plenty of Olympic Dam waiting to be developed ( but that might dampen a lot of commodity prices )

 

[divs4ever]

FULL OWNERSHIP OF ERNEST HENRY – ACQUISITION COMPLETED

Evolution Mining Limited (ASX:EVN) (“Evolution”) is pleased to advise that it has completed the acquisition of full ownership of the Ernest Henry copper-gold mine located ~38km north-east of Cloncurry, Queensland (“Ernest Henry”). The acquisition was via an agreement to acquire 100% of the shares in Ernest Henry Mining Pty Ltd from Glencore. Evolution has paid Glencore A$800 million from available cash on hand with the remaining A$200 million due and payable on 6 January 2023.
Ernest Henry will generate immediate benefits from increased copper production which will reduce Group All In Sustaining Costs (AISC) by around 12% on a full year basis, and cements Evolution as one of the lowest cost gold producers in the world. The operation also has attractive growth potential below the current operating footprint which is the subject of a pre-feasibility study. Commenting on the completion of the transaction, Executive Chairman Jake Klein said: “Acquiring full ownership of Ernest Henry is transformational for Evolution and again demonstrates our track record of identifying and securing opportunities that are both accretive and improve the quality of the portfolio.

Ernest Henry is a world class operation in a Tier 1 jurisdiction which we know well through our previous economic interest investment in 2016. I extend a warm welcome to our new colleagues that join Evolution today.
We look forward to continuing to build on our relationships with the local communities in Cloncurry and Mt Isa, and with the traditional custodians of the land, the Mitakoodi People.” This announcement has been authorised for release to the ASX by the Executive Chairman.

DYOR

i hold EVN

am not sure how EVN calculates ' one of the lowest-cost gold producers in the world ' there are some rivals that run a pretty tight ship

 

[mullokintyre]

FULL OWNERSHIP OF ERNEST HENRY – ACQUISITION COMPLETED

Evolution Mining Limited (ASX:EVN) (“Evolution”) is pleased to advise that it has completed the acquisition of full ownership of the Ernest Henry copper-gold mine located ~38km north-east of Cloncurry, Queensland (“Ernest Henry”). The acquisition was via an agreement to acquire 100% of the shares in Ernest Henry Mining Pty Ltd from Glencore. Evolution has paid Glencore A$800 million from available cash on hand with the remaining A$200 million due and payable on 6 January 2023.
Ernest Henry will generate immediate benefits from increased copper production which will reduce Group All In Sustaining Costs (AISC) by around 12% on a full year basis, and cements Evolution as one of the lowest cost gold producers in the world. The operation also has attractive growth potential below the current operating footprint which is the subject of a pre-feasibility study. Commenting on the completion of the transaction, Executive Chairman Jake Klein said: “Acquiring full ownership of Ernest Henry is transformational for Evolution and again demonstrates our track record of identifying and securing opportunities that are both accretive and improve the quality of the portfolio.

Ernest Henry is a world class operation in a Tier 1 jurisdiction which we know well through our previous economic interest investment in 2016. I extend a warm welcome to our new colleagues that join Evolution today.
We look forward to continuing to build on our relationships with the local communities in Cloncurry and Mt Isa, and with the traditional custodians of the land, the Mitakoodi People.” This announcement has been authorised for release to the ASX by the Executive Chairman.

DYOR

i hold EVN

am not sure how EVN calculates ' one of the lowest-cost gold producers in the world ' there are some rivals that run a pretty tight ship

Its called talking yourself up.
Mick

 

[divs4ever]

Its called talking yourself up.
Mick

yes , and i am not so happy to see that from an established company , at the very least it gives the hint of another capital raise , but others might says it hints at discontent with the board , such hints MIGHT attract super-critical analysts ( and the accompanying short-sellers )

while i am currently willing to add extra EVN around $3.20 ( ish ) that could change , if they try to over-expand quickly

 

[Miner]

No one blinked - whats up folks ??

 

[divs4ever]

am waiting @ $3.20 ( for extras )

no worries , just means the cash is still in MY bank account